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Allentown School District, Pennsylvania; General Obligation; School State Program Aug 08
Standard & Poors, Aug 2008
Abstract
Standard & Poor's Ratings Services assigned its 'A' rating to the Allentown School District, Pa.'s $25 million 2008 general obligation (GO) bonds. The outlook is stable. The 'A' rating on the debt outstanding now reflects the district's own creditworthiness; however, the bonds are still eligible for the Pennsylvania State Aid Intercept Program. The rating also reflects the district's: Improved financial performance due to increased state aid and good reserve levels; and A moderate overall debt burden. Offsetting these factors are the district's: Transitioning local economy with above average unemployment levels; Sluggish tax base, with adequate wealth and income levels and low per capita market values; and Increasing debt burden due to its extensive capital needs. The district's full faith and...
Companies mentioned in this report are: Allentown Sch Dist
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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